With market headlines flashing warnings and gold prices soaring, some Americans nearing retirement are feeling the pressure. One 70-year-old investor wondered if now was the time to move part of his 401(k) into cash.
That question came during a recent episode of “The Ramsey Show,” where Robert from Nashville asked hosts George Kamel and Jade Warshaw if shifting to a money market fund made sense in the current climate.
“Gold’s high, the dollar’s down,” he said. “I’m spooked by the indicators.”
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Robert and his wife have about $400,000 in retirement accounts and another $100,000 in a high-yield savings account. Despite earning an average return of 10.89% over the past 23 years, he worried about retiring in 11 months and possibly getting hit by a market downturn.
The hosts urged him not to let fear drive his decision.
“If you…
